Used Car leasing

83dons2

I am thinking of leasing a car and have looked at the suggested sites in the article here. They all seem to deal with brand new car leasing. Given for the first year we are mainly paying for the loss in value of around 40% of the new car I was thinking it would make more sense to lease an older vehicle of at least 1-2 years old. Does any reliable company offer this service and can anyone recommend one to look at? i am happy leasing a slightly older vehicle as long as this is reflected in a lower overall cost. I would likely still take a monthly maintenance option though. I found some via google but wasn't sure how trustworthy they might be. Thanks for any advice.

searchlight123

be wary. at the moment used cars are at an all time high price and in a lot of cases, leasing a new car is cheaper (or as near as) than leasing a nearly new one, provided you don't mind the longer waits attributed to ordering a new car that is not already held in stock.

83dons2

Thats is interesting. I would have thought leasing a used car say 1-2 years old would carry about 40% less price tha a new one given new cars still don't hold their price initially. That is only thing that is problem with leasing the new car is the wait for delivery I would like something available in a week or so not 3-6 months.

Car_54

As above, used car prices are very high. No-one knows what they will be in 3-4 years time, but I'd expect the leasing companies to take the prudent view that they'll revert to "normal". That means high depreciation, and so high leasing rates.

Nobbie1967

83dons2 said:

Thats is interesting. I would have thought leasing a used car say 1-2 years old would carry about 40% less price tha a new one given new cars still don't hold their price initially. That is only thing that is problem with leasing the new car is the wait for delivery I would like something available in a week or so not 3-6 months.

I suspect that the companies buying the cars to lease get a substantial discount which largely offsets the excessive depreciation of new cars. Also, in the current market I doubt the depreciation is as much of an issue.

83dons2

So basically be as well to stick with looking at new cars to lease if I don't mind waiting for them to arrive? Is it worth taking maintenance on new cars on your opinion?

Herzlos

Normally, used cars offer a substantial discount compared to new cars, but new car availability being terrible means that used cars available tomorrow are more expensive than new cars available sometime later this year.

I've never heard of leasing of older cars, most people tend to take used cars on HP and now you can get most with a PCP which usually carries a fairly poor finance rate.

83dons2

I mean 1-2 years old as this is when most of the depreciation is on a new car. What is the wait like on most new cars I am not really up for waiting several months?

Penelopa.Pitstop

If you don't want to wait, you have to find car that's in stock.

Regarding maintenance, it depends how much it costs comparing to actual cost of service and items that may need replacing like tyres.